Section 34
Power to invest, etc.
of Forest Research Institute Malaysia Act 2016
ActIn forceProvision 34 of 56
Section 34
(1)
The Institute may, with the approval of the Minister and the Minister of Finance, invest the Fund or any part thereof, not being immediately required to be expended under this Act, in any investment or securities.
Act 782
(2)
The Institute may deposit, either on deposit account or current account, any moneys for the time being uninvested, in—
(a)
any licensed bank or licensed investment bank under the
Financial Services Act 2013 [Act 758]; or
(b)
any licensed Islamic bank under the Islamic Financial
Services Act 2013 [Act 759].